Analysts Set DraftKings Inc. (NASDAQ:DKNG) Price Target at $37.89

DraftKings Inc. (NASDAQ:DKNG) has received a consensus recommendation of “Moderate Buy” from the thirty-one analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $37.8929.

A number of equities analysts recently commented on the company. Citigroup dropped their price objective on DraftKings from $48.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Barclays dropped their price target on shares of DraftKings from $44.00 to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DraftKings in a research note on Wednesday, January 21st. Canaccord Genuity Group decreased their price objective on shares of DraftKings from $50.00 to $44.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Texas Capital upgraded DraftKings to a “hold” rating in a report on Thursday, January 8th.

Insider Activity

In related news, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total value of $1,689,391.77. Following the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at approximately $16,005,000. This trade represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Erik Bradbury sold 7,268 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $22.50, for a total value of $163,530.00. Following the sale, the chief accounting officer directly owned 36,736 shares of the company’s stock, valued at $826,560. The trade was a 16.52% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 112,822 shares of company stock valued at $3,638,895. Insiders own 47.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DKNG. IHT Wealth Management LLC boosted its holdings in DraftKings by 4.1% during the second quarter. IHT Wealth Management LLC now owns 6,271 shares of the company’s stock valued at $269,000 after acquiring an additional 248 shares during the period. Orion Porfolio Solutions LLC boosted its stake in DraftKings by 3.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company’s stock valued at $397,000 after purchasing an additional 321 shares during the period. Geneos Wealth Management Inc. boosted its stake in DraftKings by 7.3% during the 3rd quarter. Geneos Wealth Management Inc. now owns 4,793 shares of the company’s stock valued at $179,000 after purchasing an additional 328 shares during the period. Valeo Financial Advisors LLC grew its holdings in DraftKings by 3.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,009 shares of the company’s stock valued at $429,000 after buying an additional 348 shares during the last quarter. Finally, Huntleigh Advisors Inc. increased its position in DraftKings by 0.8% in the 3rd quarter. Huntleigh Advisors Inc. now owns 43,630 shares of the company’s stock worth $1,632,000 after buying an additional 363 shares during the period. Institutional investors own 37.70% of the company’s stock.

DraftKings Stock Performance

Shares of DKNG stock opened at $21.81 on Thursday. DraftKings has a fifty-two week low of $21.01 and a fifty-two week high of $48.78. The stock’s 50-day moving average is $30.68 and its two-hundred day moving average is $35.18. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $10.75 billion, a P/E ratio of -545.25, a PEG ratio of 0.92 and a beta of 1.67.

DraftKings News Summary

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Expanded addressable market — DraftKings launched its online sportsbook in Puerto Rico, adding a new regulated market and incremental revenue potential as it grows its footprint. DraftKings Launches Online Sportsbook in Puerto Rico
• Positive Sentiment: Institutional support remains — Jefferies kept a Buy rating on DKNG, saying the recent share decline may be near its end even after trimming its price target, which supports the case for longer-term upside if execution continues. Jeffries Thinks DraftKings Share Decline Is Nearing End, Keeps Buy Rating
• Positive Sentiment: Longer-term TAM potential flagged by analysts — Commentary from DraftKings’ investor day highlights expanded total‑addressable‑market opportunities (including prediction markets) and analyst interest in FY28 forecasts, suggesting upside if growth targets and product rollouts materialize. DraftKings Investor Day: Analyst Sees TAM Growth Potential
• Neutral Sentiment: Mixed insider activity — Company filings show a director bought a sizable stake while the Chief Accounting Officer sold shares; insiders are expanding into Arkansas and preparing a predictive-event product, which is strategically relevant but mixed in near-term signaling. DraftKings Insider Moves Frame Arkansas Expansion And New Prediction Platform
• Neutral Sentiment: Wall Street ratings are supportive but mixed in usefulness — The stock’s average brokerage recommendation reads as a Buy, but coverage commentary cautions investors that consensus ratings can be overly optimistic and should be weighed against fundamentals. Is It Worth Investing in DraftKings Based on Wall Street’s Bullish Views?
• Negative Sentiment: Cautious 2026 guidance and higher spending weigh on valuation — Management returned to profitability but issued conservative 2026 revenue guidance and signaled increased spending (prediction markets, new market entry), raising near‑term uncertainty around growth and margins and pressuring the share price. A Look At DraftKings Valuation After Cautious 2026 Guidance And Higher Spending Plans
• Negative Sentiment: Analyst target trims and market reaction — Some analysts have cut price targets (e.g., Jefferies trimmed its target), and commentary notes continued downward pressure on the shares as the market reprices DraftKings around slower near‑term growth and heavier investment. Jeffries Thinks DraftKings Share Decline Is Nearing End, Keeps Buy Rating

About DraftKings

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.